AUD/CAD – 1H – SELL

The combination Australian Dollar/Canadian Dollar (AUD/CAD) goes from the descending trendline down.

A continuation of the bearish trend downwards to the next support line at 0.89241 will continue.

Caution: A possible reversal of the trend in the direction of resistance at 0.89667 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The currency pair could go down.

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘Tweezers Top’ candlestick chart pattern is existing. The chart shows ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).

0.89667 – 0.89607 – 0.89452 – 0.89241 – 0.89210 – 0.89051

Trading Signals: FOREX – AUD – AUD/CAD – CAD – Tweezers Top – Rising Wedge Chart Pattern